Omaha daily bee., 1887-04-16
WHEAT TAKES A BIG SPURT
The May Option Rapidly Advances on Buy.
ing By Clique Houses.
PECULIAR STATE OF AFFAIRS
Nothing Affects the Market Except
the Talk OF a Corner-Shorts Show
Great tAnxiety-General Mar.
ket Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, April l5 Especial Telegram TO
the BEE. Wheat for May was at sc &c for a
minute to-day. kershaw Il Co., clique
broker, bought some wheat for which he paid
that figure. Other of the clique houses were
selling at the same figures. The ordinary
points on the market don't count for any
hing any longer a6out the wheat pit. The
receipts, shipments, rain, drought, buyers
sellers, none Of these significant and con-
trolling influences at most times, are given
moments consideration now. There is only
Dne subject that is talked-its the clique.
VIII there be storage room here? VIII cash
wheat be paid for by May /? VIII the upset
price be 90c or 81? viii the deal stop at May
Dr run through June and July? These are
phases OF tins one uppermost topic that alb
sorb all attention The general opinion as to
them all is given in the course Of the market.
Ii the crowd here did not believe that May
wheat would all be paid for and taken in May
| the price would not have been SG14c
This morning, While it was 7eHc at
Milwaukee, only 92l4c at New York,
Sic at St. Louis and S35c at Detroit.
n. b. Ream, after survey, of the weather
map, said: "If this drought in Ohio and In
diana continues another week there viii be
buyers enough from that section to unload
this whole deal on" X. g. Mccormick says:
III answer 10 l,OOU IMPURITIES sent OUT Uy my
self, the replies were that in Ohio and In
diana and in parts of Kansas winter wheat
had already suffered terribly. In Illinois
and Missouri the crops had not suffered yet
but continued dry weather Will cause them
to suffer desperately" There have been
many times during the progress of the wheat
deal when the shorts and bears on the mar
ket who have not happened to be short,
stroking their chins and assuming self.con-
6dent attitude, have asked their bull neigh
boIs: where in the world there was any
adequate shortage IN this market to squeezed"
There have been, indeed, many days when 1t
looked as II there was no shortage at all, as
II the last man who had sold 'short' had
covered. People familiar with corners
know how deceptive these days are. These
are dull, warm, depressing days, when the
load of wheat is heavier than lead and when
people who are short are exceedingly self
confident and exceedingly quiet. There
were. no doubts expressed to-day as to
market worth squeezing. The wells from the
wheat pit as wheat sailed up over
ic per bnshel gave all the an
,sswer needed; The, anxious look on the
fellows who had been making big fortunes so
rapidly in the past three years on the short
side Of wheat was another equally good
answer. It's supposed that Field, Iintley
Co.. and Irwin. Green d Co. sold 100000
bushels apiece between s5c and sec to-day,
and.yet ,O0o, ,o00bushels of long wheat thrown
on the market from this one source gave no
relief at all.
On the afternoon board wheat broke az@
Ne. Corn declined &c. Wheat for May
July at sS]s1ds29.c, August at s9EGas2l++cc,,
closing at the inside. Lard for May sold
at s7.4oa7 .42l3 June at $3.50. July at S157
Short ribs for May sold AT SS.359s.37 :,
June At ss47}f@s.5o, July at ss.5719, August
at SSGJ,